The present invention relates to the process by which polybutadiene's (hydroxy-terminated) double bonds are transformed by the reaction of potassium dichromate to alcohol moieties. The process includes the use of (1) hydoxy terminated polybutadiiene solvated by pyridine (a modifier of the reaction)/methylene chloride, tetraethyl ammounium chloride, potassium dichromate; (2) wash in dilute hydrocloric acid to protonate the hydroxyl units and to form the eschenmoser salt, (3) wash in water to remove the salts.